Calpine Corporation Announces Pricing of Senior Secured Notes Offering
May 17 2010 - 8:02AM
Business Wire
Calpine Corporation (NYSE:CPN) today announced the pricing
of $400.0 million in aggregate principal amount of its 8%
Senior Secured Notes due 2019 in a private placement. This offering
is expected to close on May 25, 2010. The notes will be
guaranteed by each of Calpine Corporation’s current and future
subsidiaries that is a guarantor under Calpine Corporation’s
existing credit facility. The notes and related guarantees will be
secured equally and ratably with the indebtedness incurred under
Calpine Corporation’s existing credit facility and other
indebtedness that is permitted to be secured by such assets, by a
first-priority lien on substantially all of Calpine Corporation’s
and certain of the guarantors’ existing and future assets, subject
to certain exceptions and permitted liens.
The notes have not been and will not be registered under the
U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered
or sold in the U.S. without registration under the Securities Act
or pursuant to an applicable exemption from such registration.
This announcement does not constitute an offer to sell, or the
solicitation of offers to buy, any security and shall not
constitute an offer, solicitation or sale of any security in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
About Calpine
Founded in 1984, Calpine Corporation is a major U.S. power
company, currently capable of delivering nearly 25,000 megawatts of
clean, cost-effective, reliable and fuel-efficient power from its
76 operating plants to customers and communities in 16 states in
the United States and Canada. Calpine Corporation is committed to
helping meet the needs of an economy that demands more and cleaner
sources of electricity. Calpine Corporation owns, leases and
operates low-carbon, natural gas-fired and renewable geothermal
power plants. Using advanced technologies, Calpine Corporation
generates power in a reliable and environmentally responsible
manner for the customers and communities it serves.
Forward-Looking Statements
This release contains “forward-looking statements” within the
meaning of Section 27A of the U.S. Securities Act of 1933, as
amended, and Section 21E of the U.S. Securities Exchange Act of
1934, as amended. Words such as “believe,” “intend,” “expect,”
“anticipate,” “plan,” “may,” “will,” “should,” “estimate,”
“potential,” “project” and similar expressions identify
forward-looking statements. Such statements include, among others,
those concerning expected financial performance and strategic and
operational plans, as well as all assumptions, expectations,
predictions, intentions or beliefs about future events. You are
cautioned that any such forward-looking statements are not
guarantees of future performance and that a number of risks and
uncertainties could cause actual results to differ materially from
those anticipated in the forward-looking statements. Please see the
risks identified in this release or in Calpine Corporation’s
reports and registration statements filed with the Securities and
Exchange Commission, including, without limitation, the risk
factors identified in its Annual Report on Form 10-K for the year
ended Dec. 31, 2009, and its Quarterly Report on Form 10-Q for the
quarter ended March 31, 2010. These filings are available by
visiting the Securities and Exchange Commission’s Web site at
www.sec.gov or Calpine Corporation’s Web site at www.calpine.com.
Actual results or developments may differ materially from the
expectations expressed or implied in the forward-looking
statements. Other than as required by law, Calpine Corporation
undertakes no obligation to update any such statements, whether as
a result of new information, future events, or otherwise.
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